ADC Therapeutics SA (NYSE:ADCT) Short Interest Update

ADC Therapeutics SA (NYSE:ADCT) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 4,560,000 shares, a drop of 14.0% from the February 28th total of 5,300,000 shares. Based on an average daily trading volume, of 514,400 shares, the short-interest ratio is presently 8.9 days. Currently, 6.0% of the shares of the stock are short sold.

Institutional Trading of ADC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP acquired a new stake in shares of ADC Therapeutics during the 4th quarter valued at about $3,848,000. Orbimed Advisors LLC increased its holdings in ADC Therapeutics by 31.6% in the 4th quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company’s stock worth $11,877,000 after acquiring an additional 1,434,650 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in ADC Therapeutics during the fourth quarter valued at $1,426,000. Redmile Group LLC boosted its holdings in ADC Therapeutics by 2.6% in the 3rd quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock worth $49,358,000 after buying an additional 400,000 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in ADC Therapeutics in the 3rd quarter valued at $531,000. 41.10% of the stock is owned by hedge funds and other institutional investors.

ADC Therapeutics Trading Down 5.3 %

Shares of ADCT stock traded down $0.07 during trading hours on Thursday, reaching $1.26. 210,949 shares of the company’s stock were exchanged, compared to its average volume of 624,102. The stock’s fifty day moving average price is $1.64 and its two-hundred day moving average price is $2.22. The stock has a market cap of $121.83 million, a PE ratio of -0.53 and a beta of 1.51. ADC Therapeutics has a 1 year low of $1.22 and a 1 year high of $5.38.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.06. The business had revenue of $19.00 million during the quarter, compared to analysts’ expectations of $19.01 million. On average, equities analysts expect that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADCT has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research note on Monday. Guggenheim reduced their price target on ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday. Finally, Stephens boosted their target price on shares of ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ADC Therapeutics currently has an average rating of “Buy” and an average target price of $7.75.

About ADC Therapeutics

ADC Therapeutics SA focuses on advancing its proprietary antibody drug conjugate (ADC) technology platform to transform the treatment paradigm for patients with hematologic malignancies and solid tumors. Its flagship product is ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S.